- XRPL reaches 10M XRP total value locked, 25% of Uniswap V3 pairs.
- Ripple to release 1B XRP and re-lock 800M tokens in escrow.
- XRP price rises 1.12%; the current market cap is $28.83 billion.
XRP saw a surge in activity and value locked on its ledger after a prominent validator, known as Vet, announced a milestone of 10 million XRP Total Value Locked (TVL) on the network. The announcement coincided with the XRP Ledger (XRPL) reaching 25% of Uniswap V3’s total pairings with 500 pairs on its platform, signaling growing confidence and adoption in the XRP ecosystem.
Vet was upbeat about the possibility of more volume and swaps, stressing that Decentralized Exchanges (DEXs) and Automated Market Makers (AMMs) are essential to all DeFi operations.
TVL saw a huge increase less than a day after XRP advocate lawyer Bill Morgan announced that $5 million worth of XRP had been locked. This quick expansion highlights the XRPL ecosystem’s growing confidence and activity, indicating a larger trend toward DeFi integration and growth.
Coinciding with these developments, Ripple plans to release 1 billion XRP as part of its monthly escrow process. Out of these, 800 million of these tokens will be locked back in escrow after the release, demonstrating Ripple’s dedication to a steady supply and efficient token distribution management. This strategic decision is expected to significantly impact the market dynamics and liquidity of XRP.
Meanwhile, according to the most recent CoinGecko data, the XRP price is currently trading at roughly $0.5201, up 1.12% over the last 24 hours. With a market capitalization of over $28.83 billion, the token is clearly a major player in the cryptocurrency space.
The recent milestones and this price movement suggest an optimistic outlook and increasing interest in XRP and its ecosystem.
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